Active Equity Management

by Xinfeng Zhou, Sameer Jain

Active Equity Management provides a comprehensive understanding of technical, fundamental, and economic signals used in equities trading. It explores in detail how such signals may be created, rigorously tested and successfully implemented. Filled with practitioner insights derived from years of experience in the hedge fund industry, and supported with academic theory, Active Equity Management provides an in-depth review of basic financial concepts, examines data sources useful for equities trading, and delves into popular seasonal effects and market indicators. It also highlights best practices in model development, portfolio construction, risk management, and execution. In combining topical thinking with the latest trends, research, and quantitative frameworks, Active Equity Management will help both the novice and the veteran practitioner understand the exciting world of equities trading.

* Covers extensive data sources to build investing information, insight and conviction edges * Examines seasonal effects, explores economic & market indicators to make better trading decisions* Addresses technical and fundamental signal construction and testing * Explains dynamic factor timing strategies, portfolio construction and management * Reviews standard approaches for trade-level and portfolio-level performance measurement * Discusses implementation, trading cost analysis and turnover management

Genres: Finance

340 pages, Hardcover

First published September 18, 2014

Reviews

[Hanyu · Rating 5 out of 5]

Great breadth and informative, not super math heavy which is a plus for me (although some people will dislike that)

[Max Bolingbroke · Rating 5 out of 5]

Half the book covers signals and the other half portfolio construction/risk topics, so it's a pretty comprehensive overview of everything you need to know to run a quant equity strategy.

If you only buy one book about equity strategies, it should be this one. While this book is a bit weaker than Grinold and Kahn's Active Portfolio Management in its mathematical treatment of factor models and portfolio construction, it is much stronger than APM in its overview of equity signals. What's more, the general presentation is clearer and this book makes use of more consistent notation than APM does.

[Kate · Rating 5 out of 5]

Great overview of what active equity strategies are doing - from data to signal, from portfolio construction to implementation. This reflects the real investment world at the time the author wrote the book.

[Lawrence Peirson · Rating 4 out of 5]

It’s not very sexy, but it’s quite close to reality (unfortunately).